Bank outstanding credit disbursement rises 4.1 pc

MUSCAT: The review of the activities of conventional banks indicates an annual growth in total outstanding credit disbursement of 6 per cent as at the end of March 2018. Credit to the private sector increased by 4.1 per cent to RO 18.6 billion. Conventional banks’ overall investments in securities grew by 2.7 per cent to RO 3.2 billion. Investment in Government Treasury Bills stood at RO 429.8 million at the end of March 2018. Investment in government securities inclusive of GDBs, Government Sukuk and others stood at RO 1.4 billion.

Aggregate deposits held with conventional banks increased by 0.6 per cent to RO 19.1 billion in March 2018 from RO 19 billion a year ago. The government deposits with conventional banks marginally declined by 0.3 per cent to RO 5.2 billion, while deposits of public enterprises increased by 3.4 per cent to RO 1 billion during the same period. Private sector deposits which accounted for 65.2 per cent of total deposits with conventional banks, marginally declined by 0.8 per cent to RO 12.5 billion in March 2018 from RO 12.6 billion a year ago. — ONA